Is Obama’s HARP program right for you? Revised Oct 24, 2011 by FHFA-Federal Housing Finance Agency
Ok, I am usually one of the many naysayers when it comes to government programs that actually help a consumer. But I have to say, I just successfully refinanced my own home. I know, it doesnt sound like a big deal but when you are self employed and don’t have a lot of equity, it’s a “Really Big deal”. Did I mention, they didnt ask for tax returns or bank statements, which is unheard of in today’s financial world.
What is HARP? It stands for Home Affordable Refinance Program and is helping people refinance to lower their interest rate in lieu of Home Modifications, Foreclosure etc. What’s the catch? Well, at this time, your existing loan needs to be a Fannie Mae or Freddie Mac Loan. How do I find out if my home qualifies? You can call your lender to find out, or look it up yourself with the links below.
Below is the complete News Release on the HARP program. I’ve included a quick reference FAQ’s on the program as well.
Good luck to You!
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